2020 Bulkers Ltd

At this time, I would like to welcome everyone to this 2020 Bulkers earnings call for Q4 2024. This call is being recorded. If you have any objections, please disconnect at this time. All participants will be on listen-only mode throughout the presentation, and afterwards there will be a question and answer session. I would now like to hand it over to the speakers. Please go ahead.

Thank you, operator. Welcome to the Q4 2024 conference call for 2020 Bulkers. As last time, I'm joined here today with our CFO, Vidar Hasul, and our Chief Commercial Officer, Lars Christian Svensson, who will be taking over as CEO on April 1st. Before we start the presentation, we would like to remind you that we will be discussing matters that are forward-looking. These forward-looking assumptions are based on the company's current views with regards to future events and subject to risk and assumptions subject to uncertainties. Actual results may differ materially. And with that, I'll move over to the highlights for the quarter. We reported the net profit of $5.1 million and EPS of 23 cents. Trading-wise, we achieved time chart equivalent earnings of approximately 27,100 per day gross, which compares to the Baltic 5TC average of 18,300. We declared total dividends of 34 cents per share for the months of October through December. This corresponds to just over a 12% analyzed yield based on our current share price. For January, we achieved time chart equivalent earnings earnings of approximately 16 700 per day compared to the baltic 5 tc average which was 10 150. and today we also declared a dividend of three cents per share for the month of january and with that i will leave it over to vidar thank you magnus 2020 bulkers reports a net profit of 5.1 million dollars for the fourth quarter of 2024.

Operating profit was $7.4 million and EBITDA was $9.7 million for the quarter. Earnings per share was $0.23. Revenues were $14.8 million for the fourth quarter. The average time charted equivalent rate was approximately $27,100 per day gross. Vessel operating expenses were $4 million, and the average operating expenses per ship per day was approximately $7,300 in the fourth quarter. G&A for the fourth quarter was $0.9 million. 2020 Bolkus charged Himalaya Shipping approximately $0.4 million in management fee for the fourth quarter, which is recognized as other operating income in the financial statements. Net financial expenses were $2.1 million, which primarily consists of interest expense. Shareholder's equity was $151.9 million at the end of the quarter. Interest-bearing debt was $112.5 million at the end of the fourth quarter and is non-amortizing until maturity in April 2029. Cash flow from operations was $6.4 million for the fourth quarter. Cash and cash equivalents were $16.1 million at the end of the quarter. The company declared total dividends and cash distributions to shareholders of 34 cents per share for the months of October, November and December 2024. That completes the financial section. And now back to you, Magnus.